Bitcoin in limbo: Watch these BTC price levels ahead of FOMC
Bitcoin's price remained stable at $118,200 as traders adopted a cautious approach ahead of the US Federal Open Market Committee (FOMC) meeting. With a 97% probability that interest rates will remain unchanged, market participants are closely monitoring Fed Chair Jerome Powell's speech for any shifts in tone that could impact crypto prices. Analysts suggest that bearish sentiment following the announcement may already be priced in, with potential key levels for Bitcoin at $125,000 resistance and $105,400 support. Predictions indicate a possible drop to $112,000 if certain support levels are breached, but a breakout beyond $141,000 could lead to new all-time highs. The market is also anticipating the US nonfarm payrolls report, which could further influence Bitcoin's trajectory. Overall, investors are recommended to conduct their own research before making any trading decisions.
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